On Friday September 16, auctioneer Colm O’Donnellan welcomed people into the auction room in the Harbour Hotel Galway and online on the O’Donnellan & Joyce company website and social media platforms for an auction which was broadcast live by Brandt Studios.
There was a superb mix of residential, commercial, and land up for grabs in the auction. It was a day of frantic bidding across many lots and a number of strong sales demonstrated that demand remains high for properties in the west. Many properties performed exceptionally well at the auction, reaching well over their reserve price. The company continued its high success rate at the fifth of seven auctions of 2022, with more than €3 million in sales revenue between sales during the auction and some post auction sales, with many of the remaining lots now under offer.
Commencing at 12 noon last Friday, bidders viewed the auction in person at the Harbour Hotel Galway and from the comfort of their own homes while bidding by telephone, proxy, internet bidding, and in the hotel. The successful sales on the day include the following.
Lot 1: Callagrasta, Carnmore West, Oranmore, Co Galway
Callagrasta was a three bedroom detached residence located on an attractive site, just past the Mace shop and filling station at Carnmore Cross, within easy access of Galway city centre, Claregalway, and Oranmore. This property requires modernisation but this did not put off prospective buyers and after close to 30 bids, the lot which commenced at the AMV of €160,000 quickly rose in increments of €5,000 to the final sale price of €290,000.
Lot 2: No 20 Riverside, Woodquay, Galway
No 20 Riverside was a once in a lifetime opportunity to acquire without doubt one of the best located residences in the city centre. This charming three bedroom home has commanding views sweeping over the River Corrib up to Lough Corrib and down to the city’s Eglinton Canal. This property attracted huge interest before the auction and the bidding finished at €450,000 to the very happy purchaser.
Lot 5: No 43 Millbrook, Milltown, Co Galway
Lot 5 of the day was situated in Milltown and comprised a two-bed terraced house within the Millbrook development, just off the main Galway to Sligo road (N17 ). Bidding on this lot commenced at the AMV of €75,000 and quickly concluded at a sale price of €87,000 after fast and intense bidding from interested bidders who tried to purchase via telephone and in-room bidding.
Lot 14: Earlspark, Loughrea, Co Galway
This was a three bedroom detached bungalow measuring approximately 114sq m standing on an attractive elevated site and offering views over Lough Rea Lake. The property requires upgrading throughout and stands on a site of circa 0.5 acre. This property was the perfect opportunity for a DIY enthusiast. The bidding on this lot concluded at €240,000, which was €60,000 over its reserve price, and it is sure to become a spectacular property once renovations are complete.
Lot 3: No 11 Cypress Gardens, Athlone, Co Westmeath
Lot 3 was a four bedroom semidetached residence located close to Athlone town centre and all amenities and services. This is an established residential area and will be an ideal permanent residence or investment property for the purcahser due to its close proximity to Athlone IT. With that in mind, many bidders pitched for the property, with bidding opening at the AMV of €180,000. After a quick stint of fast paced bidding between two bidders in increments of €1,000, the sale concluded at €212,000.
Lot 4: No 7 Abbotts Hill, Belturbet, Co Cavan
No 7 Abbotts Hill was a three bedroom detached bungalow set within a small exclusive development of only eght homes on the edge of the Woodford River. The development is accessed via a tree lined avenue just off the N3 Belturbet road and situated within 6km of Belturbet town and 20km from Cavan town. This spacious residence was maintained in good condition throughout and was being sold with tenants in place. The lot sold for €145,000, which was €45,000 over its reserve price.
Lot 8 to 11: Nos 29 – 32 Riverside, Ballinamore, Co Leitrim
These four lots comprised four two-bedroom apartments being sold as separate lots. The apartments are located in a modern apartment complex in Ballinamore village which is approximately 28km from both Leitrim village and Carrick-on-Shannon. Each of these lots sold for well over the asking price of €45,000 each. No 29 Riverside and No 30 Riverside both sold for €57,000, No 31 Riverside sold for €63,000, and No 32 Riverside sold for €66,000, all after intense bidding from a number of bidders, both online and by phone.
There was many other sales on the day including two commercial properties in Cavan town. A two-storey terraced building in reasonable condition, No 69 Church Street, sold for €116,000, which was €36,000 over its reserve price of €80,000. Also in Cavan town, No 37 James Connolly Street, a three storey commercial building, sold for €150,000. In Longford town, a two-bed terraced residence, No 62 Cartrun Breac, sold for €110,000, and in Moate, Co Westmeath, a property in Moate Retirement Village sold for €100,000.
This was the fifth of seven auctions of 2022. The company's next auction is taking place on Friday November 4 in the Harbour Hotel, Galway, and promises to be an exciting one with a wide range of properties going for auction in Galway and across the country.
If you are thinking of selling your property, O’Donnellan & Joyce offers free ‘thinking of selling’ property valuations. To avail of the offer, simply call or email the auction team and a member of staff will arrange to carry out a valuation of your property.